News in Infographics: HDFC twins' merger, hike in CNG prices; & more

The long-speculated merger of mortgage player HDFC Ltd and the largest private sector HDFC Bank is finally taking place. The bank offers retail as well as wholesale products whereas HDFC Ltd is into home loans.

Read more: Explained: The main reasons behind the merger of HDFC and HDFC Bank

Prices of compressed natural gas (CNG) have been hiked in Delhi by Rs 2.5 per kg to Rs 64.11 per kg from today. Indraprastha Gas Limited has hiked the price of CNG in Delhi by Rs 2.5 per kg to Rs 64.11 per kg.

Read more: CNG prices hiked in Delhi by Rs 2.5 per kg; details here
 

Indian automakers like Maruti Suzuki, Hyundai, Renault, Honda, MG and Nissan reported a de-growth in monthly sales in March 2022. However, car manufacturers like Tata Motors, Mahindra, Toyota, Skoda and Volkswagen recorded an increase in sales.

Read more: Indian carmakers record marginal drop in Mar sales; Toyota, Skoda see record growth

India’s manufacturing activity in March fell marginally to 54.0 from February’s 54.9. The fall highlighted the joint-weakest rate growth since September 2021, stated S&P Global India Manufacturing Purchasing Managers’ Index.

Read more: India’s manufacturing PMI falls to 54.0 in March

While new orders continued to increase, the rate of expansion eased to six-month low. Successful marketing efforts and improved demand conditions drove growth in areas it was reported in.

“Rising sales supported a further upturn in production volumes, the ninth in consecutive months. Despite slowing to the weakest since last September, the rate of expansion was marked and outpaced its long-run average,” the report said.

Read more: India’s manufacturing PMI falls to 54.0 in March

Amid the rising fuel prices and supply chain crisis, the two-wheeler segment in India has still not been able to recover from the second COVID-19 wave and almost all manufacturers have seen a drop in their wholesale supply towards the dealers.

Read more: Two-wheeler manufacturers see 21% drop in Mar sales

Bajaj Auto achieved total sales of 2,97,188 units in month of March 2022 compared to 3,69,448 units in March 2021, recording a decline of 20 per cent. Total sales include domestic sale of 1,26,752 units and export of 1,70,436 units.

Read more: Bajaj Auto records 20% decline in March sales